Wednesday, May 12, 2010

Today's Links

1--Robust Economy, Back to Prerecession Levels, Forces Beijing Into a Balancing Act NY Times
2--The People vs. The Bankers Michael Hudson Counterpunch
3--The Second leg of the Great Depression was caused by European defaults Washington Blog
4--More Answers on Europe’s Debt Crisis NY Times
5--Banks Must Be Barred from Dealing Derivatives: It’s NOT a Normal Part of the Business of Banking: Rortybomb
6--Europe's 750 billion euro bazooka The Economist (details of Greek bailout)
7--A Primer on the Fed’s Swap Lines With Europe Wall Street Journal
8--Europe's Web of Debt NY Times (graphic)
9--"The People of Greece Are Fighting for the Whole of Europe” Democracy Now

Quote: "We have always known that heedless self-interest was bad morals; we know now that it is bad economics. Out of the collapse of a prosperity whose builders boasted their practicality has come the conviction that in the long run economic morality pays...

We are beginning to abandon our tolerance of the abuse of power by those who betray for profit the elementary decencies of life. In this process evil things formerly accepted will not be so easily condoned..." Franklin D Roosevelt, Second Inaugural Address, January 1937


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